Ad-hoc | 23 July 2002 08:55

Österreichische Elektrizitätswirtschafts AG english

Verbund: Results Quarter 1-2/2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Verbund: Results Quarter 1-2/2002 Highlights: · Noticeable increase in sales revenues and net income despite difficult economic conditions and unfavourable water availability · Successful closing of negotiations about “Austrian electricity solution” subject to approval of supervisory board and anti trust commission · Sales revenues expanded mainly due to extention of trading activities and success in domestic sales as well as in sales abroad · Operating result improved despite unfavourable water supply · Higher result from participating interests outweighs unrealised, valuation- related currency losses caused by strong Swiss Franc and improves financial result · Net income strongly increased due to better financial result · Operating cashflow further increased Results (EUR millions) Sales revenues 1068.4 + 40.2 % Operating result (Ebit) 152.2 + 3.5 % Financial result – 39.8 – 25.5 % Group result 81.6 + 31.3 % Operating cashflow 173.4 + 26.5 % Further information in the shareholder letter under http://www.verbund.at/investor/ end of ad-hoc-announcement (c)DGAP 23.07.2002 ——————————————————————————– WKN: 074640; ISIN: AT0000746409; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Hamburg und Stuttgart 230855 Jul 02